Obama Ready To Set Base Tax Rate on Filthy Rich

[WindyCitySports 407]

I say we cut taxes for the middle class/poor AND raise taxes on the rich?

I'm all for everyone paying their fair share, but when you start literally waging class warfare (shoving the entire burden onto one class) you are discouraging economic prosperity. Not to mention that the ones owning the businesses are the rich, so if you take money from the top, you take money from everyone.

 

How about instead of raising taxes to solve the debt problem we cut ridiculous programs? Taking an extra billion from the rich isn't going to to shit (even $1.5 trillion). The only way to really lower the debt is to get rid of the programs that create it. That way the government saves money over the long run.

 

I would also like to note that Philly deleted his comment defending the wars in the middle east. Backing off of your statement? Because that's very misleading to people.

[seanbrock 1,684]

I'm all for everyone paying their fair share, but when you start literally waging class warfare (shoving the entire burden onto one class) you are discouraging economic prosperity. Not to mention that the ones owning the businesses are the rich, so if you take money from the top, you take money from everyone.

 

How about instead of raising taxes to solve the debt problem we cut ridiculous programs? Taking an extra billion from the rich isn't going to to shit (even $1.5 trillion). The only way to really lower the debt is to get rid of the programs that create it. That way the government saves money over the long run.

 

I would also like to note that Philly deleted his comment defending the wars in the middle east. Backing off of your statement? Because that's very misleading to people.

The rich have been waging class warfare on the poorer class since we've had classes, and government not just in this country but throughtout history. I think the notion that you have that the rich will be generous and give back is flat out wrong. The rich make money and when they don't pay taxes they keep it

 

The best way to eliminate the debt is to create jobs so everyone is working and paying taxes so more tax revenue is collected.

[RazorStar 4,025]

the best way to eliminate debt is probably just to get rid of the economy all together. Work less hours, make money worth less, and do some kind of job sharing program to ensure everyone is working instead of creating more work. Our technology is expanding so much that we should focus on a efficient economy instead of a large one focused on growing.

 

and if the rich aren't going to pay taxes, the least they could do is raise wages, most people are getting paid the same amount of money that they would in the 80's... big fucking mistake when inflation is constantly rising.

[Guest Phailadelphia]

GE payed no taxes last year

 

http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/story?id=13224558

 

Bank of America paid $0 in federal income taxes last year and received almost $1 billion in tax refunds from the government. Talk about shared sacrifice, amirite?

 

I'm all for everyone paying their fair share, but when you start literally waging class warfare (shoving the entire burden onto one class) you are discouraging economic prosperity. Not to mention that the ones owning the businesses are the rich, so if you take money from the top, you take money from everyone.

 

 

Check income disparity in the US starting from the 60s going forward. In the 70s is when you start seeing a steep increase for the extremely wealthy and rather stagnate wages for the middle and lower classes. You know what happened in the 70s? They started cutting capital gains taxes and the top tax rates on the wealthy.

 

The myth that cutting taxes for the wealthy will somehow trickle down to the middle and lower classes is just that: a myth. Reaganomics is the biggest economics scam of the last 30 years.

 

For the record, the wealthy pay a lower percentage than the middle class in taxes already so your theory is doo doo.

 

I would also like to note that Philly deleted his comment defending the wars in the middle east. Backing off of your statement? Because that's very misleading to people.

 

If Philly = me, you're wrong. I've never deleted a single post I've made on this forum AFAIK. You can have an admin verify that if you like.

Edited September 21, 2011 by Phailadelphia

[Duck Fallas 209]

I see not a damn thing wrong with setting a high tax rate on ALL assets of the filthy rich. Regardless of the deficit, they have been protected by their buddies in our government for too fucking long.

[seanbrock 1,684]

I see not a damn thing wrong with setting a high tax rate on ALL assets of the filthy rich. Regardless of the deficit, they have been protected by their buddies in our government for too fucking long.

Can it you rich bastard or send me a check

[CARDINAL 205]

The government doesn't have the money to fund two wars... SO LETS RAISE TAXES.

 

Oh my God. Wow. I really can't believe I have to provide a counter point for such a response.

 

STOP THE NATION BUILDING. WE AREN'T THE WORLD POLICE. BRING OUR TROOPS HOME.

 

Even though those three suggestions that you just provided would probably help quite a bit in reducing the national deficit, it still probably wouldn't be enough. Based on what the figures are (to people who don't know what this means, ie the tea party people, it's called MATH!), taxes on the wealthest people in America will have to go up, theres no around that if your principles include not putting an unfair burden on poor and middle class people. And besides, it's a principle of fairness, as well as the principle of helping your country out. I agree that there needs to be big spending cuts in the federal government, and reform of every program so it works correctly and doesn't become burdened by inefficient use of public money and fraud, but rich people should pay more in terms of their annual income in federal taxes as a percentage. If they don't want to pay as much in overall taxes (federal and state combined) then they should just move to a state like Texas or Florida.

[CARDINAL 205]

They shouldn't have too, but they have been. You can't go to war, cause a bunch of issues in those countries, and then ship out at your own whim. Shit doesn't work that way. The government will not be pulling out anytime soon, the anti-war movement doesn't have enough backing and threat for that to happen. Nor would they considering we've destroyed some infrastructure and brought more violence to these countries by agitating the terrorists. The next logical thing is to raise more money to cover the deficit. Anyone who thinks taxing the rich more to help with that is a bad thing is out of their fucking minds, and they're probably well off and listen to fox news all day. The deficit absolutely will not be covered simply by cutting spending unless it's to some extreme amount that it hurts way more than it helps. Balance is the key.

 

I personally find it refreshing to see a logical person realize that "balance is the key" when it comes to reducing the national debt and eliminating the national deficit in America.

[Favre4Ever+ 4,476]

Even though those three suggestions that you just provided would probably help quite a bit in reducing the national deficit, it still probably wouldn't be enough. Based on what the figures are (to people who don't know what this means, ie the tea party people, it's called MATH!), taxes on the wealthest people in America will have to go up, theres no around that if your principles include not putting an unfair burden on poor and middle class people. And besides, it's a principle of fairness, as well as the principle of helping your country out. I agree that there needs to be big spending cuts in the federal government, and reform of every program so it works correctly and doesn't become burdened by inefficient use of public money and fraud, but rich people should pay more in terms of their annual income in federal taxes as a percentage. If they don't want to pay as much in overall taxes (federal and state combined) then they should just move to a state like Texas or Florida.

 

Of course it wouldn't be enough. But it certainly would be a start... Long term, we are spending trillions upon trillions on this unwinnable war. It just doesn't make much sense.

 

Also... "if your principles include..." ?!?!. You act as if an unfair burden has not yet been placed on those who are broke. It's already been done. The low and middle classes have been bent over, and rammed in the ass over and over.

 

Is it more "fair".. Sure, and in the name of fairness... Why not. But raising the taxes on the rich doesn't actually help anyone. It doesn't bring any relief to those who need it most.

 

Do you think the low class in this country really care THAT much over what the rich are getting taxed? Politically it's an issue. And yes.. "in fairness", I think they do. But they still go to bed thinking about how they are going to find work the next day... How they are going to put food on their tables... A roof over their heads... and in the end, support their families.

Edited September 25, 2011 by Favre4Ever

[Duck Fallas 209]

Can it you rich bastard or send me a check

lol. I am not rich. I am just extremely financially comfortable.